The new iPod Touch will be avilable in a 8GB and 16GB versions, with prices being $299 and $399. The new Touch will also feature a Wi-Fi music store for downloading your tunes directly to your iPod.

Other big Apple announcements today include: The iPhone is now offered $200 cheaper, with the 16GB version for $399 and the regular iPod (the iPod Classic) is now $249 for the 80GB gadget and $349 for the 160GB version. In addition, the iPod Nano now has a video screen, $149 for the 4GB and $199 for the 8GB.

All of these products will be available before the holiday season. Just in time to be wrapped underneath the Festivus pole Christmas tree.